TIAA-CREF Lifecycle 2015 Fund (Premier)

Daily NAV

Day's Change

Portfolio Net Assets

Gross / Net Expense Ratio

Under the Fund’s expense reimbursement arrangements, the Fund’s investment adviser, Teachers Advisors, Inc. (“Advisors”), has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed:0.15% of average daily net assets for Premier Class shares of the Fund. These expense reimbursement arrangements will continue through at least September 30, 2015, unless changed with approval of the Board of Trustees.

Overall Morningstar Rating

The Overall Morningstar Rating is based on risk-adjusted return, and is a weighted average of the applicable 3-, 5-, and 10-year Ratings.

Performance Returns

Average annual total return is a hypothetical rate of return that, if achieved annually, would have produced the same cumulative total return if performance had been constant over the entire period. Average annual total returns smooth out variation in performance; they are not the same as actual year-by-year results. Also, it is the average annual profit or loss realized by an investment at the end of a specified calendar period, stated as the percentage gained or lost per dollar invested.

As of 06/30/2015

Monthly

Quarterly

INVESTMENT AND BENCHMARKS

1 MONTH

3 MONTH

YTD

1 YEAR

3 YEAR

5 YEAR

10 YEAR

SINCEINCEPTION

3

TCFPX

-1.33

-0.10

+2.57

+2.79

+9.25

+9.95

+5.59

+5.99

Lifecycle 2015 Fund Composite Index

-1.48

-0.54

+1.42

+2.50

+8.79

+9.72

+5.71

+6.09

Morningstar Target Date 2011-2015

-1.42

-0.66

+1.17

+0.95

+7.33

+8.14

+4.30

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The performance data quoted represents past performance, and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your accumulation units or shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance results would have been lower. Since Inception performance shown is cumulative for funds that have less than one year of performance history. For investments with exceptional performance, please note that performance fluctuates and currently may be lower than noted here.

1The fund's Retirement Class began operations on 10/15/2004. Performance shown for the Since Inception period and prior to the inception of the Premier Class is based on the performance of the fund's Retirement Class. Performance has not been restated to reflect the lower expenses of the Premier Class. If the expense differential had been reflected, performance for these periods would have been higher.

2The fund's benchmark is a weighted average of the benchmarks for each of the underlying funds in which the fund invests. The fund's target allocations to each underlying fund will change as the fund approaches its target retirement date, and the benchmark weightings will change accordingly.

3To see the inception date for each account/fund, refer to the Profile tab.

TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Investment products, insurance and annuity products: are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.